EP ECONOMICS,AP EDITION-CONNECT ACCESS
20th Edition
ISBN: 9780021403455
Author: McConnell
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 23, Problem 7RQ
To determine
Evaluate the statement whether it is true or false.
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Figure 9.2, U.S. Labor Market
Figure 9.2 represents the U.S. labor market. Assume that labor and capital are the only factors of
production. Also assume the initial supply schedule of labor is denoted by S, and consists entirely of
native U.S. workers. The demand schedule of labor is denoted by Do
Hourly Wage/S
O
O
18
Select one:
O
12
O
9
So
2
Consider Figure 9.2. Policies that permit Mexican workers to freely migrate to the United States would likely be resisted by:
S₁
a. U.S. capital owners
b. Native U.S. workers
3
Do
6
Quantity of
Labor
c. U.S. capital owners and native U.S. workers
d. Neither U.S. capital owners or native U.S. workers
The figure shows the U.S. supply of labor curve. What would be the effect on the labor
supply curve of U.S. policies that restrict immigration?
O A. A rightward shift of the supply of labor curve
O B. A movement downward along the supply of labor curve from a point such as A to
a point such as B
O C. A movement upward along the supply of labor curve from a point such as C to a
point such as B
O D. A leftward shift of the supply of labor curve
OE. None of the above answers are correct because there would be no change in the
supply of labor curve.
Real wage rate (2009 dollars per hour)
100
75
50
25
0
100
LS
+
400
200
300
Labor (billions of hours per year)
In PPP terms, GDP per capita in Country A is 3 times higher than in
dollar terms. This means that if a US firm employs workers in Country
A at $5 per hour, this would give the the workers in Country A a
purchasing power equivalent to a wage of $15 per hour in the USA.
Select one:
O True
O False
Chapter 23 Solutions
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